IndiGrid plans to raise up to 5,300 through term loans, NTMs

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NEW DELHI : The IndiGrid infrastructure investment trust said on Tuesday that its investment management board had approved a proposal to increase up to ??5,300 crore, including through term loans and debenture issues.

A meeting of the board of directors of IndiGrid Investment Managers Ltd acting as investment manager of IndiGrid was held on Tuesday.

At the meeting, the board approved an “enabling resolution to raise funds up to ??5,300 crore in one or more tranches to be used for acquisitions, refinancing of existing loans and other similar purposes, “says a regulatory filing.

The approval is aimed at increasing the amount through various sources, including term loans, public and private issuance of non-convertible bonds, subject to receiving the necessary approvals, he added.

He said the draft letter of offer for the proposed rights issue was filed with the exchanges on March 15 and will remain open for public comment for seven business days.

The board of directors will consider issues related to the rights issuance at its March 23 meeting, according to the filing.

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